Joint Debt - Law Dictionary Search Results

obligation that may be enforced by the successor of the obligee or against the successor of the obligor joint obligation 1 : an obligation binding different obligors to a performance for one obligee 2 : an obligation … the s of contracts "Davis v. American Family Mut. Ins. Co., 521 N.W.2d 366 (1994)"] 2 : a debt security (as a corporate or government bond) see also collateralized mortgage obligation 3 : what one is obligated

Borrower

for the benefit of the joint family estate he would render the joint family property liable for such debt and it is for his personal benefit the joint family property even in the hands of the sons … meaning merely because the Act applies to all communities. Hence a father who is the Karta of the Joint family consisting of himself and his sons can become a borrower in his capacity as Karta and if

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Husband and wife

s. 39, ibid., and the 6th sched. To that Act, Part III, tenancies by entireties was converted to joint tenancies upon trust for sale, and by s. 184, ibid., in cases where the survival of either husband … (Married Women and Tortfeasors) Act, 1935, has abolished the husband's liability for his wife's torts and ante-nuptial contracts, debts and obligations. Previously to this enactment, by the Common Law, in an action in respect of a tort

release

NOTE: A release may in some situations require consideration in order to be valid. A release of one joint obligor sometimes is considered to release all the obligors. 2 : an act or instrument that effects a … release re·leased re·leas·ing 1 a : to relieve or free from obligation, liability, or responsibility [the debtor is released from all dischargeable debts] b : to give up (a claim, title, or right) to the

Solidum

Solidum. To be bound in solido is to be bound for the whole debt jointly and severally with others; but where each is bound for his share, they ae said to be bound

property

owned or leased by tenants in common compare tenancy in common at tenancy com·mu·ni·ty property : property held jointly by husband and wife ;specif : property esp. from employment and debts acquired by either spouse after marriage … without violating the Fourth Amendment to the U.S. Constitution. after-acquired property 1 : property (as proceeds) that a debtor acquires after the commencement of a bankruptcy case and that is usually considered part of the bankruptcy estate

Joint-stock Banks

Matched in: Term Joint-stock Banks

Joint-tenancy

Matched in: Term Joint-tenancy

company

income solely or primarily by holding and investing in securities issued by other companies or by government agencies joint-stock company : a business organization whose capital is represented by shares owned by stockholders each of whom is … whose capital is represented by shares owned by stockholders each of whom is personally liable for the company's debts limited liability company : an unincorporated company formed under applicable state statute whose members cannot be held liable

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